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Goodwood South Ward’s building approvals are used as a leading indicator of the general level of residential development, economic activity, employment and investment. Residential building activity depends on many factors that vary with the state of the economy including interest rates, availability of mortgage funds, government spending, and business investment. Large financial changes or shocks, such as the Global Financial Crisis of 2008/09 can be observed in the data. However, the number of building approvals can fluctuate substantially from year to year simply as a result of the short-term nature of many construction projects, and the cyclical nature of the industry.

Building approvals data for Goodwood South Ward are contained within the LGA output from the Australian Bureau of Statistics with input from local government who collects the data. Population experts, .id take these raw figures and present them in a time series. Suburb boundaries change across time, and it’s important that you are comparing the same geographic area over time. You can be confident that .id’s demographic resources take care of this for you and that the data is up to date and accurate.

.id also makes assumptions about the future levels of building activity in an area as part of our population forecasting program.